Planet Labs PBC (NYSE:PL) Rating Reiterated by JMP Securities

Planet Labs PBC (NYSE:PL)‘s stock had its “market outperform” rating restated by stock analysts at JMP Securities in a research note issued on Thursday, Benzinga reports. They currently have a $4.00 target price on the stock. JMP Securities’ target price suggests a potential upside of 115.05% from the company’s previous close.

PL has been the subject of several other research reports. Citigroup reduced their target price on shares of Planet Labs PBC from $4.50 to $3.90 and set a “buy” rating for the company in a research note on Thursday, April 4th. The Goldman Sachs Group reduced their target price on shares of Planet Labs PBC from $4.80 to $4.20 and set a “buy” rating for the company in a research note on Friday, April 12th. Benchmark reduced their target price on shares of Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Craig Hallum reduced their price target on shares of Planet Labs PBC from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Friday, June 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $7.00 price target on shares of Planet Labs PBC in a research report on Friday, June 21st. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.30.

Planet Labs PBC Trading Up 1.1 %

Shares of PL stock opened at $1.86 on Thursday. The firm has a market capitalization of $540.84 million, a PE ratio of -3.88 and a beta of 0.97. The firm has a fifty day simple moving average of $1.90 and a two-hundred day simple moving average of $2.12. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $3.77.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Thursday, June 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02). Planet Labs PBC had a negative return on equity of 25.89% and a negative net margin of 59.26%. The firm had revenue of $60.44 million during the quarter, compared to the consensus estimate of $59.80 million. During the same quarter in the previous year, the company earned ($0.13) EPS. On average, equities analysts predict that Planet Labs PBC will post -0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Planet Labs PBC

Several institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank boosted its position in Planet Labs PBC by 1.4% during the third quarter. Swiss National Bank now owns 420,300 shares of the company’s stock worth $1,093,000 after purchasing an additional 5,800 shares during the period. GSA Capital Partners LLP boosted its position in Planet Labs PBC by 443.2% during the third quarter. GSA Capital Partners LLP now owns 959,144 shares of the company’s stock worth $2,494,000 after purchasing an additional 782,568 shares during the period. Penserra Capital Management LLC boosted its position in Planet Labs PBC by 17.9% during the third quarter. Penserra Capital Management LLC now owns 560,849 shares of the company’s stock worth $1,458,000 after purchasing an additional 85,164 shares during the period. Exchange Traded Concepts LLC boosted its position in Planet Labs PBC by 24.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,159,281 shares of the company’s stock worth $2,863,000 after purchasing an additional 230,627 shares during the period. Finally, Jeppson Wealth Management LLC bought a new position in Planet Labs PBC during the fourth quarter worth about $44,000. Institutional investors own 41.71% of the company’s stock.

About Planet Labs PBC

Planet Labs PBC engages in the design, construction, and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company's platform offers planet monitoring, basemap, tasking, apps, and application programming interfaces, as well as analytics and planetary variables.